Business
IQST - iQSTEL Announces Agreement to Add $20M In Revenue and $1M in Net Income with Acquisition of Lynk Telecom
NEW YORK, May 10, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) a US-based, multinational, fully reporting and audited publicly listed
About this update from Iqstel Inc.
[{"type":"text","content":"NEW YORK, May 10, 2024 /PRNewswire/ -- iQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) a US-based, multinational, fully reporting and audited publicly listed telecommunications and technology company preparing for a Nasdaq up-listing today announced executing an agreement to acquire a 51% membership interest in Lynk Telecom (Lynktel,net). \n\n \n \n \n \n \n \n\n \nLynk Telecom Highlights\n$20 million in estimated annual revenue$1 million in estimated annual net incomeFull suite of wholesale and retail telecom services for US marketStrong US network and commercial presenceRetail services expansion plan projected to deliver a million dollars in operating net income or more by next yearThe acquisition agreed to in the sales and purchase contract executed today is expected to close no later than July 1, 2024 after due diligence is completed. The terms of the agreement call for iQSTEL to buy 51% equity ownership of Lynk Telecom. Comprehensive details will be filed in a form 8-K.\nOmar Luna, CEO of Lynk Telecom said, \"I'm absolutely thrilled to join the iQSTEL family. The support and synergies that iQSTEL offers are invaluable, and I have no doubt that they will help us double our business in a relatively short period. This partnership is a fantastic opportunity for growth, and I can't wait to see where it takes us.\nLeandro Iglesias, CEO of iQSTEL said, \"Lynktel is a very strategic acquisition for iQSTEL adding substantial operating and net income in proportion to its revenue base and giving iQSTEL enhanced presence in the US market. Lynktel takes iQSTEL one step closer to realizing our billion dollar annual revenue goal.\"\nAbout IQSTEL:\niQSTEL Inc. (OTC-QX: IQST) (www.iQSTEL.com) is a US-based, multinational publicly listed company preparing for a Nasdaq up-listing with an FY2023 $144 million revenue, and with a Quarter Billion Dollar Revenue forecast and a Positive Operating Income of 7 digits forecast for FY-2024. iQSTEL's mission is to serve basic human needs in today's modern world by making the necessary tools accessible regardless of race, ethnicity, religion, socioeconomic status, or identity. iQSTEL recognizes that in today's modern world, the pursuit of the human hierarchy of needs (physiological, safety, relationship, esteem and self-actualization) is marginalized without access to ubiquitous communications, the freedom o...